China will promote a "more active" and "flexible" fiscal policy, Chinese premier Li Keqiang told the state council's executive meeting on July 23, which could help support steel prices over the rest of this year. This statement was interpreted by steel market sources as signaling a new round of stimulus to offset downward pressure on China's economic growth. Some steel sources believed demand for steel, especially from the infrastructure sector, may not be stronger in the second half of this year, but neither will the sector see any notable decline.
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